'Very Negative': Legendary Trader Issues Major XRP Price Warning

Weakening momentum
XRP’s 6% plunge

Peter Brandt, one of the most prominent commodity traders, has opined that the current XRP price action looks “very negative.”

I post what I see. I assume strong opinions — always weakly held. I am wrong as often as I am right. If you are offended by my charts, then that is your problem
The chart of XRP is potentially very negative pic.twitter.com/r7PjhCSK1A
— Peter Brandt (@PeterLBrandt) August 29, 2025

Brandt’s chart shows that the Ripple-linked token is in the process of forming a descending triangle pattern.

Weakening momentum

The current support level is located around $2.78, with a downward-sloping trendline connecting several lower highs above it. This essentially means that the price of the token is weakening, meaning that it is falling to reach the previous peak.

Currently, the triangle is gradually getting narrower. The bearish pattern will be completed if the price of the Ripple-linked token eventually plunges below the aforementioned support at $2.78.

XRP’s 6% plunge

The price of the XRP token has now collapsed by almost 6% this Friday. Earlier today, it reached an intraday low of $2.8 on the Bitstamp exchange.

The token is now on the cusp of plunging to its lowest level since Aug. 3. XRP is now down 24% from its all-time peak of $3.67 that was achieved on July 18.

XRP has plunged alongside the broader crypto market. The price of Bitcoin dipped below $109,000 earlier this Friday.

Source: https://u.today/very-negative-legendary-trader-issues-major-xrp-price-warning